The Best Cheap Renters Insurance in Maine

Choosing the right renters insurance is about finding coverage that balances affordability with useful policy features and dependable service.

To help you find the insurance company that's right for you, we compared rates from several top insurers across 25 of Maine's largest cities.

The cheapest renters insurance quotes in Maine

State Farm has the cheapest renters insurance in Maine, where a policy costs $8 per month, or $144 per year. That's $4 per month cheaper than the statewide average, and $3 per month less than the second-cheapest option, Nationwide.

That's $71 per year cheaper than the national average, which means that renters insurance in Maine is generally more affordable than in other places in the U.S.

The cost of renters insurance is determined by several factors, including your location, your home's style or material and, primarily, the amount of coverage you purchase.

Your rates are also influenced by your personal information, like your age, marital status and your insurance history — including whether you've made claims in the past. For this reason, your rates may be different than even someone who lives in your neighborhood.

Cheapest renters insurance companies in Maine

Methodology

Best renters insurance for most people: State Farm

The best renters insurance in Maine for most people is State Farm. On average, a policy from State Farm costs $8 per month, or $100 per year. This is 30% cheaper than the statewide average.

State Farm's customer service is also highly rated. The company receives fewer complaints than expected based on its size, according to the National Association of Insurance Commissioners (NAIC). Additionally, J.D. Power ranked the insurer the second-best among national competitors for its customer satisfaction.

Although State Farm offers the same protections that are commonly found with other renters insurance companies, there are few ways to increase your coverage. For example, the company doesn't offer personal property replacement cost coverage or water backup coverage.

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Best renters insurance for complete coverage: Nationwide

Nationwide has the best coverage for renters in Maine who want extra protection on top of their policy's standard offerings. It also offers some of the cheapest rates in the state — at $11 per month, a Nationwide policy is only $3 per month more expensive than State Farm.

However, renters insured with Nationwide aren't always satisfied with their coverage. The company receives more complaints than expected for its size, according to the NAIC. Nationwide also scored below average on J.D. Power's annual customer satisfaction survey.

Besides offering standard renters insurance coverage, Nationwide has the following options for renters to customize their policy:

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Best renters insurance for seniors: Allstate

Allstate is the best renters insurance for seniors because of its discounts. Renters at least 55 and retired are eligible for a discount of up to 25% on their premiums. The insurer also offers discounts for bundling renters and auto insurance policies and remaining claim-free.

However, coverage is expensive if you're not eligible for Allstate's discounts. The average cost of Allstate renters insurance is $13 per month, or $161 per year — 12% more expensive than average in Maine.

Allstate's customer service isn't always up to par, either. According to the NAIC, the insurer receives more complaints than anticipated for a company of its size, and it earned a below-average score from J.D. Power regarding customer satisfaction.

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Best customer service: Amica

Amica is the best company for Maine renters who value excellent customer service. The company receives far fewer complaints than competitors of a similar size, according to the NAIC. That means renters are generally happy with Amica’s customer service.

Unfortunately, great service comes at a price. On average, renters insurance from Amica costs $14 per month, or $164 per year, which is 14% more expensive than the statewide average.

However, the company does offer several discounts to help renters save money on their insurance, including discounts for:

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Maine renters insurance rates: City-by-city breakdown

The cost of renters insurance in Maine varies by up to $23 per year across the 25 largest cities in the state. Gorham renters pay an average of $166 per year for insurance, while those in Brunswick and Scarborough pay $143 per year.

Best-rated renters insurance in Maine

Amica customers are generally happy with the service it provides. The company scored 0.12 on the NAIC Complaint Index, which means it receives very few customer complaints compared to average insurers its size.

Renters who prioritize excellent service should consider comparing quotes from USAA. However, not everyone is eligible to purchase a policy — you have to be a military member, veteran or their family member to qualify.

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Frequently asked questions

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Methodology

We compared the following three qualities of each renters insurance company in order to find the best company in Maine:

To compare renters insurance rates, we gathered quotes for addresses across the 25 largest cities in Maine. Our sample renter was a 25-year-old man living alone with no claims history.

Rates are based on the following coverage limits:

Customer service ratings were determined based on our own ValuePenguin editor's rating, J.D. Power annual customer satisfaction survey scores and National Association of Insurance Commissioners (NAIC) complaint index data.